Upon completion of the deal, USP’s share base will increase from just below 90.3 million shares to nearly 105.3 million shares. This level will make mDR the second largest shareholder of USP.
SINGAPORE (Jan 24): mDR is paying $1.2 million for a 14.25% stake in another listed entity USP at a discount of 85.5% to the target’s net asset value.
mDR, which is the new name of former market darling mobile handset servicing chain, Accord Customer Care Solutions, is paying 8 cents for 15 million new USP shares – one cent above USP’s volume weighted average price of 7 cents on Jan 22.
